It looks like we’re headed toward a soft landing, but ...

“We don’t know what the next shoe to drop is,” said Subadra Rajappa, head of U.S. rates strategy at the French bank Société Générale,

The term “soft landing” first made its way into the economic lexicon in the early 1970s, when America was fresh from a successful moon landing in 1969. Setting a spaceship gently on the lunar surface had been difficult, and yet it had touched down.

“The prevailing consensus right before things went downhill in 2007, 2000 and 1990 was for a soft landing,” said Gennadiy Goldberg, a rates strategist at TD Securities. “Markets have trouble seeing exactly where the cracks are.”

“It looks like we’re headed toward a soft landing, but we don’t know the unknowns,” Ms. Rajappa said.

New York Times 29 July 2023

https://www.nytimes.com/2023/07/27/business/economy/fed-economy-soft-landing.html